Item 8.01. Other Events
The Company has been following the recommendations of local health authorities
to minimize exposure risk for its team members for the past several weeks,
including the temporary closures of its offices and having team members work
remotely, and, as a result, the quarterly report will not be completed by the
filing deadline, due to insufficient time to facilitate the internal and
external review process.
Aftermaster Inc. (the "Company") will be relying on the Securities and Exchange
Commission's Order under Section 36 of the Securities Exchange Act of 1934
Granting Exemptions From Specified Provisions of the Exchange Act of 1934 and
Certain Rules Thereunder dated March 25, 2020 (Release No. 34-88318) (the Order)
to delay the filing of its Quarterly Report on Form 10-Q for the quarter ended
March 31, 2020 (the Report) due to the circumstances related to COVID-19.
In light of the current COVID-19 pandemic, the Company will be including the
following Risk Factor in its Quarterly Report as of March 31, 2020:
COVID-19 Risk Factor
The Company is supplementing the risk factors previously disclosed in its most
recent periodic reports filed under the Securities Exchange Act of 1934 with the
following risk factor:
Our financial performance and start of operations have been delayed due to the
impact of the CoronaVirus pandemic which has slowed down investor funding
opportunities.
The recent outbreak of a strain of coronavirus (COVID-19) in the U.S. has had an
unfavorable impact on our business operations. Mandatory closures of businesses
imposed by the federal, state and local governments to control the spread of the
virus is disrupting the operations of our management, business and finance
teams. In addition, the COVID-19 outbreak has adversely affected the U.S.
economy and financial markets, which may result in a long-term economic downturn
that could negatively affect future performance. The extent to which COVID-19
will impact our business and our consolidated financial results will depend on
future developments which are highly uncertain and cannot be predicted at the
time of the filing of this Form 8-K, but we hope to limit the impact on our
business, results of operations and financial condition.
The Company expects to file the Quarterly Report on Form 10-Q in mid-June 2020
(but in any event no later than June 29, 2020, which is 45 days from the
Quarterly Report's original filing deadline of May 15, 2020).
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